The BC Transition Tax 2015 Update Explained

The BC Transition Tax 2015 Update:If you subsribe to our Truth About Real Estate newsletter you would have already received the update regarding The BC Transition Tax on new homes.

It is indeed wrapping up as of March 31, 2015. We are sure your fully aware of the details surrounding this change however here is a brief explanation etc.

This temporary tax is applicable on the sale of a new home that was 10% or more complete as of April 1, 2013. However, if ownership and possession take place on or after April 1, 2015, the 2% tax will not apply, as it ceases to exist on April 1.

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This representation is based in whole or in part on data generated by the Chilliwack & District Real Estate Board, Fraser Valley Real Estate Board or Real Estate Board of Greater Vancouver which assumes no responsibility for its accuracy - Listing data updated on June 6, 2020.